Category Archives: UPDATES

POSTED: JANUARY 2, 2024

Willi and I are not very religious. But we do like the family time that comes at Christmas. We had always spent a lot of time with our aunt Myrtle and Uncle Allen. Allen passed a while back and aunt Myrtle over the holiday we spent a bit of time with. She has some nasty arthritis and has been taking a prescription topical treatment with mixed results. “Dr. Willi ” over Christmas however turned her on to some CBD cream and she is in love with the stuff now and is back to playing the piano like Billy Joel!

Now the significance of this is that a couple of decades ago uncle Allen sold his eleven muffler shops and took back a mortgage on the various muffler shop properties. Every month he (and then Aunt Myrtle, once he was unable to do it)  would faithfully deposit the mortgage cheques into an investment account and an advisor with the bank they are with would invest the funds. One of those investments was in one of the small marijuana companies as a tax loss and as it went down in value, the advisor kept buying in to reduce the average cost,  but also to maintain its tax advantage.

So fast forward to last week when Myrtle, faced with several of the mortgages now paying out the final principal bought a thirty percent ownership position in the sixth largest marijuana operation in Canada and is totally focused on the CBD market. So we now have a friendly party to joint venture with!  Stay tuned. We are back in business!

Alco

POSTED MAY 1, 2023

A while back in late 2022, we entered into an agreement with the largest marijuana grower in Canada and were excited to be working out the details of the agreement  when … yup, they went into a financial meltdown and needed to restructure. We were thrown under the bus.

Then earlier this year, we entered into a new agreement with that other big producer in Canada and …. yup they were the ones who also went into creditor protection and our deal died.

So at this point we are back at square one. We have both taken jobs at bars (well Willi is at a bar and I am in a kitchen job) and we are seriously considering throwing in the towel on Joint Custody Weed.  All of our resources are gone, and while we have had a number of encouraging responses on the concept, its not clear at this point  with our capital drained, how we can proceed in an industry that is going through such a shakeout.

We have considered a go-fund-me approach but neither of us are keen to take other peoples money if we cant get this off the ground.  But I remain an optimist. At this point we don’t have any capital left but the lawyers and tax people and financial advisors have all been paid so we are at a clean starting point from the standpoint of the regulators if we can magically get this off the ground again. Each week Willi is buying a lottery ticket!

Alco